HomeMy WebLinkAbout19-13 - ADMIN Resolution - Economic Development Authority - 2019/10/21St. Louis Park Economic Development Authority
EDA Resolution No. 19-13
Resolution approving Subrecipient Agreement (Beltline Boulevard
Station Park and Ride project) between the St. Louis Park Economic
Development Authority and the Metropolitan Council
Whereas, the St. Louis Park Economic Development Authority (the “Authority”) is currently
administering its Redevelopment Project No. 1 ("Project") pursuant to Minnesota Statutes,
Sections 469.001 to 469.047 ("HRA Act"), and is pursuing the establishment of a tax increment
financing district within the Project to finance a portion of the costs of expected mixed-use
development in connection with the planned Southwest Light Rail Transit (“SWLRT”) Beltline
Station; and
Whereas, the Authority, the City of St. Louis Park (the “City”), and Sherman Associates
Development LLC (“Redeveloper”) have entered into a Preliminary Development Agreement dated
as of February 5, 2018, memorializing the parties’ preliminary agreements as to the conveyance
and redevelopment of certain Authority-owned property adjacent to the SWLRT Beltline Station
(the “Development”), as well as the redevelopment of certain other property owned by the
Redeveloper (the “Property”), in relevant part for the construction of a structured parking facility
(the “Ramp”) in which 268 parking stalls will be reserved for SWLRT park and ride users, and 94
parking stalls will be for the use of other users of the Development; and
Whereas, the City previously submitted a Congestion Mitigation and Air Quality (“CMAQ”)
grant application to the Federal Transit Administration (“FTA”) to finance a portion of the costs of
construction of the Ramp, and FTA has awarded a CMAQ grant in the amount of $6,453,054 (the
“Grant”) to be administered by the Metropolitan Council (“Met Council”) for the benefit of the
Authority as subrecipient of the Grant; and
Whereas, Met Council and the Authority have negotiated a CMAQ subrecipient agreement
(the “Grant Agreement”) in the form presented to the Board of Commissioners of the Authority,
memorializing the terms and conditions of the Grant, and the Board of Commissioners finds that
the approval and execution thereof and performance of the Authority's obligations thereunder are
in the best interest of the City and its residents.
Now, therefore, be it resolved by the Board of Commissioners of the St. Louis Park
Economic Development Authority as follows:
A. The Grant Agreement as presented to the Board is hereby in all respects approved,
subject to modifications that do not alter the substance of the transaction and that are approved
by the President and Executive Director, provided that execution of the Grant Agreement by such
officials shall be conclusive evidence of approval.
DocuSign Envelope ID: DCDCCE43-3F3C-4FB1-AED4-39094B7A46B0
EDA Resolution No. 19-13 2
B. The President and Executive Director are hereby authorized to execute on behalf of
the Authority the Grant Agreement and any documents referenced therein requiring execution by
the Authority, and to carry out on behalf of the Authority its obligations thereunder.
C. Authority staff and consultants are authorized to take any actions necessary to
carry out the intent of this resolution.
Reviewed for Administration: Adopted by the Economic Development
Authority October 21, 2019
Tom Harmening, executive director Steve Hallfin, president
Attest:
Melissa Kennedy, secretary
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